Brookfield, Mitsubishi HC Capital Form JV for 570MW EUR400M Renewable Energy Platform
BAM•Brookfield Asset Management and Mitsubishi HC Capital launched a JV to acquire and operate a 570MW seed portfolio of contracted renewable assets in Europe with EUR 400M equity value. Assets have PPAs averaging 10 years and the JV targets wind, solar and storage acquisitions with launch in H2 2026.
1. Joint Venture Formation
Mitsubishi HC Capital and Brookfield Asset Management have created a joint venture to acquire and operate a diversified portfolio of contracted renewable energy assets in Europe. The JV will be jointly controlled by both partners under customary governance arrangements, with Brookfield responsible for day-to-day operations.
2. Seed Portfolio Details
The initial seed portfolio comprises approximately 570 megawatts of installed capacity across the U.K., Spain, Sweden, Finland, France and Ireland, carrying an equity valuation of about EUR 400 million and underpinned by power purchase agreements with an average remaining term of ten years, ensuring stable long-term cash flows.
3. Growth and Launch Timeline
The JV is evaluating additional acquisitions of onshore wind, utility-scale solar and battery energy storage assets in Europe and Australia, with each partner contributing capital pro rata and approvals required for future deals. The platform is expected to officially launch in the second half of 2026.
